General Dynamics (NYSE: GD) reported Q1 EPS of $2.61, $0.10 better than the analyst estimate of $2.51. Revenue for the quarter came in at $9.4 billion versus the consensus estimate of $9 billion.

The company has its highest Aerospace backlog in more than a decade

Backlog: Orders remained strong across the company with a consolidated book-to-bill ratio, defined as orders divided by revenue, of 1-to-1 for the quarter. In addition to company-wide backlog of $87.2 billion, estimated potential contract value, representing management\'s estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $41.8 billion. Total estimated contract value, the sum of all backlog components, was $129 billion.

Aerospace backlog grew $1.3 billion in the quarter to $17.6 billion, up 8.1%.

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